Revenue for the quarter was a record $171.0 million, an increase of 124 percent from the same quarter a year ago. Net income, excluding non-cash acquisition and other acquisition related charges, increased 148 percent to $24.8 million, or $.16 per share.
For the fiscal year, revenue increased 123 percent to $564.7 million from $253.3 million in the prior year. Excluding non-cash acquisition charges, net income was $77.8 million, or $.53 per share, an increase of 128 percent compared with fiscal year 2000. In the past year, Peregrine has clearly established itself as the leading global provider of integrated infrastructure management and e-Market solutions.
We are driven by our vision of creating a highly efficient, frictionless business environment for our customers. Our results this quarter in the face of challenging economic conditions demonstrate the value of our solutions, said Steve Gardner, chairman and chief executive officer of Peregrine. As we enter fiscal 2002, we remain confident in our market position and the opportunity we address. We believe our continued focus on our customers’ return on investment, combined with the diversity of our revenue base and industry-wide partnerships, will allow us to build long-term shareholder value.
At the same time, we are realistic in our assessment of current corporate spending patterns, and we are aligning our business model to improve our productivity and leverage our strengths.
We were particularly pleased with the strength of our sales through managed service providers and our professional services partners. As we continue to meet major milestones in our corporate development and build our solutions portfolio, these relationships become increasingly important to our ability to extend our reach to new customers and markets, Gardner added. During the quarter, Peregrine expanded its relationships with several global systems integrators and managed service providers, including IBM Global Services in the U.S. and Systematics in Germany. In the fourth quarter, professional services partners influenced the purchases of approximately half of all license revenue.
SOURCE: COMPANY PRESS RELEASE
